DAX Forecast Today 18/6: Finds Support To Start Week (Video)
Date
6/18/2024 4:35:21 AM
(MENAFN- Daily Forex)
The DAX somewhat stabilized during the trading session here on Monday, as we are looking at this through the prism of the 18,000 euro level offering a lot of support. So, with that being the case, I think you've got a situation where market participants are looking at this market as a value. That does make sense considering that the DAX sold off so viciously as of late mainly due to some Political noise but ultimately Stocks around the world continue to see a lot of interest and I think that probably remains the case going forward.
This is a market that should lead the rest of the way for the European Union so therefore I think even if you aren't trading the DAX itself, you're looking at this as a signal for other potential trades when it comes to equities around not only the European Union, but perhaps the world in general.I Believe the DAX Recaptures the Highs
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Over the longer term, I fully anticipate that the DAX will recapture the highs because the ECB is going to go out of its way to liquify the markets and stock traders love cheap money. As long as that's going to be the case. The 50-day EMA is an area that I'll be watching very closely. It's near the 18,350 euros level and I think breaking above there could bring in even more money, more of a FOMO trade, if you will.
If we were to break down below the 18,000 euro level, then I think we need to really pay close attention to the 17,750 euro level, which is an area previously had shown itself to be rather supportive. Either way, I think this is a dip that people are going to be buying into, and as a result, I am as well. Ultimately, this is a market that I do believe is going to follow other equity markets around the world, where traders are simply looking to do anything, they can to put money to work.
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